If you decide to work for yourself, you are called a sole trader. A sole trader must register for Tax and National Insurance. A trader is someone that sells, makes items or offers a service for profit. Working for yourself means being responsible for your company’s...
Business, Start-Ups / 14.01.2016
More ways to Finance your Start-up Business
If you are still trying to get a loan for your start-up, here are some additional ways you could finance your business. Grants Whether you are eligible for a grant or not will depend on your business or background. Bear in mind that it’s very difficult to...
If you decide to work for yourself, you are called a sole trader. A sole trader must register for Tax and National Insurance. A trader is someone that sells, makes items or offers a service for profit. Working for yourself means being responsible for your company’s...
Accounting, Start-Ups / 08.01.2016
How to Finance a Start-Up Business
Most aspiring entrepreneurs are concerned about the lack of capital that could help them back up their viable idea to start a business. However, once you know where to look, securing funding won’t be as daunting as you thought it would be! There are lots...
Accounting / 22.12.2015
How the Marriage Allowance Works
The Marriage Allowance enables you to reduce your tax by up to £212. This is achieved by transferring up to £1,060 of your personal allowance to your husband, your wife, or your civil partner. Your personal allowance is the part of your earnings that you don’t...
Landing your first contract with one of the biggest firms out here can be difficult, especially if you are self-employed or a small business. Of course, signing a big client will open doors for you and bring credibility. But, getting there seems rather far-fetched. Or...
Business / 15.12.2015
Dealing with Difficult Clients
Unfortunately, all small businesses have difficult clients. They contact you out of office hours, they want a blow by blow account of the work you’re doing for them, they know better or they want the job doing yesterday. Here are four ways to make your life...
As an employer, you are obliged to operate PAYE, as part of your payroll, unless none of your employees is paid more than £112 a week, has another job, gets expenses and benefits or gets a pension. However, you do need to record their wages...
VAT / 07.12.2015
VAT Record Keeping
A VAT Registered business must issue VAT invoices. These rules are for businesses which don’t use the VAT Margin Scheme. Valid invoices must be on paper, or issued electronically. You must keep a record of the invoices issued, even if you write one out by mistake,...
VAT / 31.10.2015
Small Businesses: VAT-related FAQs
Small business and start-ups have lots to think about regarding their operations, especially when it comes to VAT and related issues. For that reason, we have compiled a list of the most frequently asked questions, answered by our experts in a simple fashion saving difficult-to-understand...
If you want your financial year to run for more, or less than 12 months, you can change your company’s financial year end. You can apply online, by post or ask a company like SQK Accountancy in Manchester to help you with your application. You can’t change...
VAT / 25.10.2015
What information do you need for new starters?
If you have a new employee, you will need certain information from him or her, in order to set up PAYE and in order that the new employee’s first wage slip contains all the appropriate information. If the new employee has a P45 this will contain...